Show STORIES of WALL STREET Matrimony P Syndicate &f)Q By JAMES H GANNON Copyright by Street the many deals always spectacular and most times remunerative engineered through the maze of Wall street by Joseph W Barr — the Dick Turpin of Finance as scandalized financiers Insisted him to be — the one of which Barr himself was proudest was that he ever referred to laughingly as the "corner In matrimony?’ The street called It the "deal In it Suburban Trolley” and ranked of among the lesser accomplishments But operator the daring western Barr who had a more intimate knowledge and Juster appreciation of the details clung to his “corner In and placed it first Perhaps the fact that he shared the s glory — and the spoils — with two one of them the only woman young or old he ever enthused over swayed his Judgment At the beginning of the winter season the stock exchange house of Willis Barr & Co had opened a branch Palm Beach for the convenioffice who were winence of its customers tering at the Florida resort John Marshall whose father had been on of Barr’s stanchest friends In the old Chicago days was transferred from where he had the New York office been placed by Barr after the father’s to death in straitened circumstances thb Palm Beach branch John Marshall who was always "Young John" to Barr in spite of his manhood had six feet of aggressive viewed this ostracism with conflicting While he recognized the emotions Barr’s under opportunity presented keen eye to prove his ability as manto ager of the office a higher place there were personal reasons which however were not entirely personal since he believed them to be shared by one other for which he would gladly have accepted New York a even as a winter resort feeling To Palm Beach he went more or less like a martyr but the season was hardly under way before he received a convincing proof of the It was in the virtue of form of a note In a wide mannish the hand from Elizabeth Rogers daughter of Morton Rogers the president of the United Trust company and ' head of the Urban Traction system announcing her near departure for Palm Beach in' company with her MONO at Jr Smith brought Elizabeth and John Incidentally to the point of sedition Curiously enough tha coming of the banker was coincident with the arrival at the resort of two other financiers and Henry T Wilson of Philadelphia Andrew F Raines of New York Even more curious however was the fact that Messrs Wilson and Raines were with Morton Rogers the important interests in the Urban Traction system This coincidence did not escape John who telegraphed the news of the meeting of the traction men to Willis & Barr Co in the firm’s cipher and received an answer bidding him to be So far as alert for developments John could learn however there was no prolonged conferences of the three tomen although they were much gether in public At the end of the appointed ten days the banker left for the north and on the following day the young people who had seen little of each other during his visit shouldered their golf bags and set out for an afternoon on the links When they had holed out on the ninth green Elizabeth who had for some time been In the grip of a mood that puzzled John sorely suggested that they rest for a moment Once at ease on the soft turf she opened the pocket of her golf bag and withdrew from it with an air of mystery two little packets Turning back the sieves of her Jersey after the recognized canons of legerdemain she held up the packets before John’s eyes "I have here In my hands” she began in the staccato of the variety stage "two little packages — ” "Has anyone In the audience a high hat?” called John bowing deeply to the amazed cadaies who were pitching pennies near by “One of them” continued Elizabeth bestowing a withering look on the enthusiastic young man "is a map pf Westchester county and the other a copy of a telegram sent by Morton Rogers of the Urban Traction system to the road’s counsel—” whistled John serious this time at least "Both of them” went on the girl In the stagy voice which was breaking Just a little now "my contribution to the syndicate that is to crown John Marshall as the young of Napoleon finance” mother "Bess what In the world do you John’s thoughts on receipt of the mean— what does this mean?” note underwent a series of fluctuations "It means I’m a traitor to my dad curiously like those of some harassed Oh John isn't It horriblo But you stock under the manipulation of Joseph must promise me one thing I don’t " W Barr care about your old deals— I want you as to views had For Morton Rogers to get all the glory you can because — Elizabeth’s future which had so far well Just because — but I just insist with those of that you promise not to make dad lose failed to run parallel John The president of the United any money” a bulwark of the old Trust company "I do promise" said John very school of finance had opinions of Joeven without earnestly "I promise imparseph W Barr which included knowing the consequences — even If I connected with the lose the tially everyone glory" western operator Now you tell "That’s a good boy In his estimation anyone who ac- me what these things mean I’ve puzcepted employ with Barr might fairly zled' over them for days" be regarded as one of the crew of a the streets “Why the map shows pirate ready at the word of command and roads of Westchester county — by to scuttle and quite sink the fairest Jove!— they’ve marked the line of the seas on the financial Suburban Trolley system in blue and ship afloat While all this was a matter of regret here’s a long red line from the terto John It troubled him les than it minus of the Suburban down Bingham might have had Elizabeth seemed to avenue to— “Let’s see the telegram Bess take a different view of the situation She was a young woman of riotous inThat’s right — listen: ‘Go ahead dependence and determination who with Bingham franchise (signed)— might be counted on under provoca- M R’ tion to take her father’s stubborn will “That’s it The Urban Is going to as she had often taken five bars in a get a franchise to lay tracks up avenue to connect with the Subflight across country with hounds She accepted the young westerner urban system — here where the blue as a good comrade She liked line ends Bess see? The red line frankly his shows where the new road will run sawed him because he never into mount’s mouth bleeding patches "That means they’re going to buy so that she might get in at the death out the Suburban either in the open first he won if he could He worked market or from the big holders priearnestly to beat her eighteen up on vately Maybe they’ve bought it althe links although it was seldom more ready —” than (wo finally for her drives and “No” broke In the girl who was “I know brassie shots were those of a St An- looking over his shoulder drews’ professional they haven’t bought It yet They’re On the night before his departure waiting to see how the franchise is on called out John Beach had for Palm They’re asking for it in coming and under the influence of the name of a fictitious company” Elizabeth "Bess I don’t know about this If had spoken the coming separation more freely than usual of their plight anyone else knew what we know there would be trouble in plenty for the Ur"It’s no use Bess” he said finally ban — and your father It’s a pretty In mock despair after they had touched dangerous experiment — lightly from many sides the parental shouldn’t lose dad “You promised ‘‘I’ve got to firmness put through anything It’s only fame we want you some kind of a deal that will establish and know” finance mo as the Napoleon of — but— by Jove!— I’ve got it "Yes I don’t care then IH win recognition We’ll tell We’ll send for Mr Barr for the money” "I Intend to be a syndicate member him frankly just why we want to put through this little deal — if you don’t in that same deal” retorted Elizabeth — and me his about mind of you knowing "Yes it will be a syndicate in the financial woods” said Bess You know he was an old friend IIe’11 help us out He perhaps not of my father John vAnd they laughed Just pines for deals like this He'll put quite heartily As It turned out how’ever it was a It through without harming a hair of — anybody’s head You don’t mind his syndicate of three and as for the babes— it is difficult to believe that Jo- knowing Bess do you?’ "No-Not if you tell him — but seph W Barr ever tolerated swaddling that makes three in our syndicate" clothes of any sort ' Three weeks after the arrival of Mrs she added with a pout — the synbroker he’s our "But only Rogers and Elizebeth at Palm Beach dicate’s broker” declared John laughtelegram thero came an unwelcome if we went it alone tom M'irton Rogers The banker was ingly “Besides end up by ruining your coming for a ten days’ visit with his we might and he whistled a message which father H was fami at this phase of softly the deal Elizabeth’s eyes twinkled mischievously as they rested on the face of the young man Then: "Sic semper tyrannis” she whispered blushing tremendously "Bully” cried John — and the waiting caddies set off in high disgust at the conduct of these two unprofessional who pretended to play golf Joseph W Barr tilted back his chair adjusted his feet comfortably on the opened drawer of his desk and read for the third time a cipher message which the telegraph clerk of Willis Barr & Co had pust brought in to him "It’s from young John at Palm Beach Willis” he explained to his partner ‘The boy has stumbled Into in connection with Urban something Traction but he’s devilish Incoherent Wants to come up here or me to come down there — ‘personal’ he says and ’can’t send details by wire’ " “Why don’t you run down to Palm Beach Mr Barr? You haven't had a day off In months Perhaps the boy is some lonesome — and he may have news worth while "It’ll do you good anyway” added Willis "There’s nothing doing here Just now” "I’ll do it” said Barr with quick decision And the same evening found him slipping away to the south of words but With some confusion with straightforward manliness John told Barr the uttermost details ot the scheme He did not fail “syndicate’s" to lay hare the real purpose of the deal nor did he forget to mention his promise to Elizabeth that her father should suffer no actual loss He touched this part of his communication co tactfully that the little broker who had been striving with increasing difficulty to keep countenance ’finally broke into a gale of laughter was He John’s face grew long half inclined to he offended at such a of his plans But little by reception as breeze little he watched after breeze of mirth sweep his chief the real humor of the whole situation bore in on him and he was soon paying laugh' for laugh "I can’t help it John Damn— 1 Just can’t” cried Barr mopping up the tears which coursed down his fat cheeks "Me — a buccaneer — a pirate — an old Captain Kidd — butting into a deal as And Cupid everymoney money where and not a solitary white chip for me" And he went off Into another spasm with John in close pur- suit The eyes opened at last shining with good will and a fat friendly band went out to John “Young John” said the litle broker quietly “you’ve got to have that girl she’s worthy your father’s son We’ll put this thing through so that old Rogers will be proud of both of you For we’ll buy the Suburban for him cheaper than he could get It himself and I’ll gamble he’ll be a friend of mine too when it’s all over Now that’s enough of that I want you to take me out and introduce me to the girl” They found Elizabeth hidden away in a corner of the big piazza She arose to meet them and John began a bit diffidently:' "This Is Mr Barr Bess— Miss Rogers — ” "The syndicate’s broker Miss Rogers” interrupted Barr with such a severely professional air that both the girl and John forgot the little awkwardness of the situation and laughed heartily with the little man When John left them a few minutes later they were deep in a discussion of the value of various girth cinches for work An hour passed and Barr arrayed in knickerbockers and a very Jaunty golf cap buBtled Into John's office "Where are your golf sticks John?” He was almost breathless from his haste "We’ve Just time for eighteen holes before sunset” “I’m sorry” began John "but I’ve gof these accounts to fix up — ” asked you to go” said "Nobody’s Barr grimly grabbing the golf bag ‘Tve got to attend to some details of the syndicate matter with Miss Rogers Does this cap look all right? Had to borrow it of the bell boy “Straight now — is It O K?” queried the little man anxiously pushing the cap from one ear to the other in an exces of zeal "It’s fine” laughed John: "You look like the sultan of Sulu By Jove! I'm getting jealous I am” "You’d better be” panted Barr And John watched him hurry away to meet Elizabeth on the lawn He made a sweeping bow with the little cap in hand to the laughing girl and they passed from sight Barr came in to John at dinner that night all aglow with the exercise of the game "She beat me one up” he said ruethe fully as he solicitously tucked napkin in around the expanse of linen “One up exposed by his dinner coat — and by a girl too don’t you ever tell that to John Willis — or her dad I tell you John I feel like a new man I’m half inclined to reform to mend If I thought there my wicked ways was one chance in a million of finding that fountain of youth that Ponce de Leon looked for around here I'd do it too I’d get In the running with wou But you can’t teach an old dog new tricks and I guess I’ll have to stick by We’ve got the black flag the old ones covered with white this trip though and we’re going to make a swift voyone for the girl and and a rich age you — and I’ll have my fun out of it "Damn — I’d like to bring up alongside that treasure ship of old Rogers cleared for action — um — um — ‘thirteen men on a dead man’s chest’— But we’ve promised John we’ve promised to be good How I wish your dad could have lived to see that girl! "Well I’ll just hang around here for a few days to get this moral tone cinched — I’d be afraid to trust myself Just yet around Wall street with all this Urban dynamite in my clothes— and then I’ll sail north under the white flag I’ll wigwag you in to the of the drive had fallen eight points in dropping from ninety to three days while the little man’s brokers gathered In sixteen thousand shares On Thursday morning as Barr had foreseen the Suburban directors met and reduced the dividend on the company’s stock from four to two per cent On the floor of the Exchange following this announcement an avalanche finish" of traction atocks loosened from their moorings by Barr struck the market “It’s the most inexplicable thing Mr and the entire group fluttered toward Rogers" declared the perplexed coun- lower figures like a mammoth balloon sel of the Urban Traction company to despoiled of its gas the banker “Here not ten days ago Barr was hovering over the ticker in asthe Tammany people practically his inner office mopping his face as sured me that there would not be the usual when the announcement came of slightest difficulty in getting the Bing- the Suburban dividend cut He scanned ham avenue franculse through — at the the tape until it printed off a usual rates of course — and now they’re drop in the stock and then clapworse than lukewarm they seem pos- ping his hat on his head he made his itively against the franchise" way down Broad street to the offices of the Su"Perhaps it is a question' of more of President Schlimblnger burban Trolley company money?” hazarded the banker “No I think not Once In the presence of that harI suggested the of an Increased campaign assed German possibility gentleman he came contribution but it did no good I fear straight to the point Mr "Some clients of our house just a bit there is some scheme under us way to take advantage of the thing Schlim — binger have commissioned themselves to try to feet your holdings of Suburbperhaps the Suburban people have learned our plans and are try- an Trolley I don’t know that you care to sell and I tried to tell them that I ing to forestall us?” “It’s not that” declared the banker didn’t think too much of the stock as “I think you’ll find the gang is simply a purchase It’s lower now as I preAs for the dicted than the figures they are willholding us up as usual Suburban I’m more than ever con- ing to pay you — " vinced that we were wise to put off Barr fumbled about In his pocket a buying the stock in the market until moment and drew out a check “Yes You’ve the franchise was settled You’d betgot forty thousand ter keep up the negotiations with the shares of stock It’s deposited as colbelateral with trust companies for loans Tammany people a while longer fore applying openly for the franchise amounting to exactly three million two hundred thousand dollars The stock They’ll com® around with a proposition is selling now or was ten minutes ago of some kind probably” makes your which But the Urban counsel could make at no headway with the Tamamny people forty thousand shares worth forty They were playing the game as it had thousand dollars less than the amount If the trust companies been planned out for them by their of your loan whose sold haven’t because Barr out friend you good Joseph W already sterling q allties as a plunger at the of your exhausted margin on behalf of race meets had endeared him to a my clients I offer you this certified score of powerful district leaders who check for your equity over the three dollars frequented the tracks To them and million two hundred thousand particularly to P J Milligan who held you’ve borrowed” below Fourteenth street In the the Barr put the little piece of paper In hollow of his itching palm Barr had the trembling hand of Schlimblnger outlined a course in regard to the fran- The man’s face lighted up with joy chise which satisfied each desire “It's one hundred and twenty thouIn the meantime Barr had started sand dollars” he said slowly his campaign for the control of the “Yes” said Barr bitterly “twice too Suburban Trolley company The much It’s four dollars a share above was twenty million dolthe market but they would pay It" lars anT?ie stock was selling In the "My brewery It again me saves — on market at ninety dollars a share ach Gott — sei danks" And quick tears the divid nds of four per cent paid by welled to the eyes of this other Esau the road To control the company it Who had so nearly despised his birthwas therefore necessary to obtain right for the red pottage of Suburban something over one hundred thousand He would have wept on the bosom of shares which at market prices meant Barr had not the little man so hustled a costof over nine million dollars him through the process of signing paair no port of Barr’s plan to pay I pers and telephoning the anxious trust any such sum for the stock His care- companies ful investigation of the financial condiThat evening when he had received him convinced tion of the Suburban reports from his brokers Barr found that the stock could be put down to a that the syndicate was now in possesfigure where the one hundred thousand sion of a little over thoushares should cost little more than sand fire hundred shares of Suburban million dollars and of this This Included the eight forty thousand amount eighty per cent or six million shares and fifteen from Schlimblnger could four hundred thousand dollars thousand shares his brokers had garhe borrowed on the stock purchased nered during the day He sent off a He had promised John that the road him to telegram to John aummoning should be bought much cheaper than New York and arranged to fill his the Urban would have been compelled place at Palm Beach to pay and it was a matter of profesThen as If to sponge the slate clean sional pride to even exceed this prom- of sentiment he called in two of his ise confidential brokers and arranged for The inquiries into the Suburban’s af- a savage attack on the whole market fairs bad disclosed such a decided loss “I want Suburban to go to seventy-fivof a in earnings through competition by noon on Saturday" he said recent extenson of the elevated syswith a vicious snap and I want you tem that a reduction of the four per to get thirty thousand shares of the cent dividend was inevitable at the ap- stock by then" proaching dividend meeting of the diWhen the Exchange opened on the rectors This of course would assist following morning there was a in putitng down the stock to seventy-fivrumor on the floor that a “big where Barr coolly determined It Interest”’ In Suburban was about to be should go sold out by a trust company which the little man whose had loaned him vast sums of money on In addition were a matter the stock The rumor gained birth as sources of information had discovered that the It went and its ramifications of amazement soon Inpresident of the Suburban who was cluded a startling array of reports of also one of the largest Individual stock- failures defalcations and general holders was the head of a brewery crimes against the constituted order which was teetering on the edge ot of things a fact which in connecAlmost the first transaction on the bankruptcy startled Barr floor was a sale of one thousand shares tion with a brewery even more than the unfortunate presi- of Suburban at t a point dent’s name which was Schlimblnger under Thursday’s closing price and To bolster up his brewery President of three hundred five hundred and had borrowed money on lots which broke the Schlimblnger before the end of his forty thousand shares of Suburban price to seventy-siHe the first hour The floor was convinced stock from two trust companies had borrowed to the last cent and of the truth of the story of drastic acBarr smiled softly at the pleasing pros- tion by the trust company especially pect of "shaking out” the forty thou- as the selling came from brokers who often acted for it sand shares when Suburban tumbled With these facts in his possession There was no way of telling that the brostock apparently hurled haphazardly Barr had commissioned variousi from kers in his employ to pick up Suburb- at the market simply passed Barr’s right hand to his open an stock at the "market” which meant left the prevailing price of ninety He in- through “wash” sales by brokers In down” this price his employ Even the brokers emtended to "average later by purchases at lower figures ployed did not know this and the reThis preliminary move netted him sult was a big break in the entire marsome six thousand shares snd then he ket The tremendous put under way a raid on all the tracselling with the tion group of stocks which served the slump had its effect It brought forth Suburban stock from the hands of indouble purpose of depressing Suburban and yet of concealing the real move- vestors and speculators who thorment against it oughly frightened by the panicky apThe raid on thq tractions began on pearance of the market and the wild of Suburban threw Monday three weeks after Barr’s re- flight downward turn from Palm Beach It was accom- overboard a stock which no one panied by many lurid stories of an- seemed to want at any price sudcame o’clock two But a the there at be measures to taken by tagonists course authorities regarding fran- den change in the market’s municipal John Willis hurried chises collections of back taxes suits From the floor over to Barr a note which said: to compel big expenditures for changes “Brokers usually acting for Rogers and of motive power to electricity Don’t other inventions calculated to bring and Urban taking Suburban dare sell any more stocks short and dismay to holders of traction stocks And all these fables by the grace of am buying back tractions to cover preP J Milligan were backed up by the vious sales” Morton Rogers and his fellow assosilence of the Tammany expressive ciates in the Urban Traction company city authorities these stories and by the had watched for some days with growThrough the behavior of the sheer impact of the thousands of ing amazement shares of traction stocks hurled at a traction stocks in which they were inmarket Barr drove prices terested So long as all the tractions frightened on Wedthe decline they had on down notch after notch until hung together nesday all the tractions were away off agreed in attributing the movement to When lost a hear raid for quick profits The usually sedate Urban had four points and Suburban the object however Suburban Trolley cut away from its fellows on Friday the Urban came to the conclupeople promptly sion that the stock was being purposeinterests ly depressed by Tammany who Intended to buy it low and sell if high after the Bingham avenue franchise had been granted Convinced that this was the true exof the weakness of Suburbplanation an Mr Rogers and his friends immediately formed a pool to buy the stock They were perfectly sure that Tammany interests would not be buying it unless they meant to grant the franchise The pool was formed at one o’clock and at two o’clock its operations had turned the tide of the market Suburban rallied from seventy-si- x t and to at the close and Its rally bolstered the whole market which had been fast slipping into a panic Barr had feared from the first that the low price to which he intended to drive Suburban would attract buying by the Urban interests and he had taIn less ken his measures accordingly than fifteen minutes after Willis’ mesclerks sage reached him two trusted were on the way to Westchester county with orders to visit local holders of the stock and to buy it from them at any price It had cost Barr one thousand dollars to secure a list of stockholders of the road before tho On Saturday morning a opening of the Exchange Barr’s from his brokers and the two clerks showed him to be In possession t thouof a little less than A sand shares of Suburban short sharp battle followed on the floor ot the Exchange for the shares needed the competitive for control Under bidding of his own and the Urban brokers the stock scrambled hastily to and finally to eighty to ninety ‘But the street had been swept so bare of It that at the close at noon Barr was still a few houndred shares short of actual control of the Suburban Trolley company The little man smiled mysteriously as he exhibited the results of his campaign to John who had arrived that morning from Palm Beach “It’s all right John” he declared “You can inform Miss Rogers officially if you dare that the great matrimony syndicate is about to cash in” Late that afternoon the resplendent but puzzled usher at the door of the United Trust company performed automatically the duty of introducing Joseph W Barr into the private office As the of President Morton Rogers little man passed his window the paying teller whistler softly a few musical bars which he gravely explained to hla assistant were from the opera "Plratea of Finance” door of the When the private office bad clicked after the disappearing form of Barr business came to a prompt halt in the United Trust The third company and the cashier sauntered over to the and desk of the second Infused with a similar desire for comtellers clerks messengers panionship and attendants drifted Into little groups There was an air of expectancy over To complete the scene the groups little Italneeded only a ian to wave a red rag on a stick and to point frantncally appealingly at the private office as if within it were a thin train of powder sizzling sputits way toword tering glowworming its tremendous goal The explosion came It was a burst of laughter that shook the partitions of the private office It was followed fast by others until rather the little group of auditors sheepishly broke up and the wheels of the United Trust company spun busily again leaving unsolved the riddle of the private office Within that was presented the pleasing sight of a thin elderly gentleman with Dundreary whiskers engaged In a vain attempt to keep on his Roman nose eyeglasses which bounded off and away with each of many peals of laughter and opposite him a fat little man lntermittenly engaged in mopping his wet cheeks with handkerchief ends and saying things which seemed calculated very possibly to prolong the mirth of the other own daughter— Elizabeth" "My Morton Mr Rogers coming out gasped to fail hopelessly into of a convulsion all it another "Yes — and my boy— John” groaned Joseph W Barr almost smothering himself in the mopping process "Bought control of the Suburban for eight million dollars —sell it to me for the same — we expected to pay nine million five hundred thousand dollars at least” And another galg bowled over the Urban magnate "Not quite control You spoiled our Lack two hundred game on Friday shares” And there was subtle flattery "You’ve got the synin Barr’s words dicate at your mercy” franavenue "And the Bingham chise?” queried the banker adjusting his glasses at last P J Milligan "The syndicate put short of twenty thousand shares of stock and covered it three points lower on the break netting him sixty thouHere’s his receipt: sand dollars “ ‘Where’s there a cave to stow franBingham away all this dough? chise goes through on Monday— more Do you want dough— from the Urban the city hall for a branch office?’” "Hum— um” commented the banker “More dough— from the doubtfully Urban’ ” “Well” said Barr reassuringly “I won’t put In any bill this time" "Good” said the banker with a sigh of mock relief "The syndicate’s offer is accepted” "In toto?” queried Barr with feigned anxiety the banker "In toto” answered "The yoppg scamps” |